January 18th 2018
Based off of my first and second week in my B250 Web Business Creation course through BYU-Idaho, I have learned the following things:
1) It is best to begin by coming up with business ideas. It is easier to first brainstorm what product/service it is that you want to sell as opposed to beginning by finding a business model.
Also, make sure the product/service you choose has meaning and is something consumers would want to buy.
2) There are many business models on the web that one can draw from. You can even create your own business model by combining other known business models together. Once you have decided what product/service it is you want to sell, you should have a better idea on how you want to market it. This is the next step in creating your online business: find an effective business model.
3) Google AdWords is a great tool in researching if your product is going to be a product of demand. For free you can initially research keywords that relate to your business or product and see if they are competitive (1 being high competition and under 1 being low competition) and if their monthly impressions (estimated times your keyword would be searched monthly) are high. For example, you may want to sell kites online. You can find keywords that relate to selling kites online and determine if this is a product of demand.
4) Being someone who has never created an online business but has completed a Small Business Creation course in which I sold products by word-of-mouth; I am still new to the jargon that relates to this course. An online business has many avenues of revenue through advertising and other means that I look forward to understanding and learning more about.